Stamp Duty - Change from PPR to Investor

C

cward033

Registered User
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Hi,

I bought a house in ROI in Jan 2004 as a PPP with a friend. We paid stamp duty on the house at the time at the PPP rate. The house fell within the threshold of Eur317,500 to Eur381,000 thus we ended up paying stamp duty at 3% (this was the PPP rate at the time).

In March 2005, I have moved to NI thus the house in ROI is no longer my PPP and is rented out.

I'm aware that I have to pay the stamp duty rate at the investor rate. However, at what rate do I pay this? The investor rate is 6% -as I am no longer the PPP, do I pay stamp duty on the difference (i.e. 3%) which is divided between two (my friend and myself).
 
do I pay stamp duty on the difference (i.e. 3%)
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Correct. As regards the split I'm not sure revenue care how its split other than to want the 3% owed but logically yes the burden is on both of you.
 
Madra,

I don't think I made it clear in the initial posting, but my friend who purchased the house is still living in it - i.e. is it still his PPP.

As we own the house jointly, is my stamp duty liability the difference of 3% or 3% divided in 2 as I only own 1/2 the house??
 
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